Money Expo 2022 to Focus on Digital Assets

[webfact]

 

by Na-ark Rojanasuvan

    

BANGKOK (NNT) - Money Expo 2022 Bangkok will be held from May 12th to 15th at the Challenger Hall of Impact Arena Muang Thong Thani, with an emphasis on digital assets.

 

Santi Viriyarangsarit, Chairman of the Money Expo, said the annual event, the 22nd of its kind, will be organized by “Money and Banking” magazine under the theme “Wealth to Wellness.”

 

Offering products and services at the event are non-bank, insurance, and capital management firms, gold brokers, digital asset exchange service providers, digital asset consultancy companies, and financial service-related government units and private firms.

 

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Santi said the event this year would conform to the new consumer behaviors in terms of investment trends and lifestyles. He explained that nowadays investors shift their focus to digital assets, adding that participating firms will help new investors get off the ground faster in digital asset investment.

 

The event will offer enthusiasts advice on digital asset investment, along with the latest happenings with the Web 3.0, NFTs, Metaverse, GameFi, and DeFi.

 

Aside from digital assets, event-goers can find more information about the stock market and gold investments from industrial gurus.

 

-- © Copyright NNT 2022-05-06

 

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[lkn]

3 hours ago, webfact said:

The event will offer enthusiasts advice on digital asset investment, along with the latest happenings with the Web 3.0, NFTs, Metaverse, GameFi, and DeFi.

Sam Bankman-Fried is the founder of FTX (crypto exchange) which was one of several companies that ran ads during the latest superbowl.

 

He was a guest on the Odd Lots podcast and was asked about yield farming, and (unknowingly?) described a ponzi scheme, leaving the hosts stunned.

 

Matt Levine summarized it as: “You're just like, well, I'm in the Ponzi business and it's pretty good” and Joe Weisenthal added: “it’s just like other people put money in the box. And so I'm going to too, and then it's more valuable. So they're gonna put more money in, and at no point in the cycle, did it seem to like, describe any sort of like economic purpose”.

 

There you have it: That is DeFi! It is just one giant ponzi scheme, but prices have been going down since early November, this is despite miners not cashing out their bitcoins (but instead lending against them) and MicroStrategy (aka Michael Saylor) taking out another $205 million loan to buy even more bitcoins, and this loan is secured by his existing bitcoins, basically the strategy used by Bill Hwang, who was buying up stocks, causing price to increase, and then taking out loans, secured by his stock holdings, and buying up more of the same stocks (using multiple banks and derivative instruments to make this scheme more opaque).

 

Anyway, my point is just: That this conference is happening is very sad! It is just a lot of grifters who need more money into the ecosystem, so they try to convince regular people that DeFi is the future, and they should put their money into it, not realizing that nothing of value is being created, they are just paying for earlier “investors” to cash out.

 

Recently Fidelity opened up the ability for 401(k)’s to invest a portion in bitcoin, nobody asked for this, but Fidelity recently invested in bitcoin mining so they need people to buy bitcoins, otherwise this mining company can’t sell the bitcoins they mine (which I believe they are currently actually not doing, because it would tank the market), so this is major conflict of interest for Fidelity: They bought a company that wastes enormous amounts of energy to produce worthless digital tokens, so now they want U.S. citizens who save up for retirement to start buying these tokens, as part of their 401(k).

 

Rant over…